The changing structure of American innovation:Some cautionary remarks for economic growth

Arora, Ashish, Belenzon, Sharon, Patacconi, Andrea and Suh, Jungkyu (2020) The changing structure of American innovation:Some cautionary remarks for economic growth. In: Innovation Policy and the Economy. Innovation Policy and the Economy (1). University of Chicago Press, pp. 39-93.

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Abstract

A defining feature of modern economic growth is the systematic application of science to advance technology. However, despite sustained progress in scientific knowledge, recent productivity growth in the United States has been disappointing. We review major changes in the American innovation ecosystem over the past century. The past three decades have been marked by a growing division of labor between universities focusing on research and large corporations focusing on development. Knowledge produced by universities is not often in a form that can be readily digested and turned into new goods and services. Small firms and university technology transfer offices cannot fully substitute for corporate research, which had previously integrated multiple disciplines at the scale required to solve significant technical problems. Therefore, whereas the division of innovative labor may have raised the volume of science by universities, it has also slowed, at least for a period of time, the transformation of that knowledge into novel products and processes.

Item Type: Book Section
Uncontrolled Keywords: economics and econometrics,strategy and management,management of technology and innovation ,/dk/atira/pure/subjectarea/asjc/2000/2002
Faculty \ School: Faculty of Social Sciences > Norwich Business School
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Depositing User: LivePure Connector
Date Deposited: 04 Jan 2020 05:04
Last Modified: 24 Sep 2020 00:15
URI: https://ueaeprints.uea.ac.uk/id/eprint/73487
DOI: 10.1086/705638

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